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Security Orchestration Automation and Response (SOAR) Market Trends

  • Report ID: GMI7071
  • Published Date: Jul 2024
  • Report Format: PDF

Security Orchestration Automation and Response Market Trends

Cloud-native SOAR Solutions could be an emerging trend in the SOAR market. With the growing adoption of cloud technologies and the remote work trend, there could be a shift towards cloud-native SOAR solutions. These solutions are designed to operate in cloud environments, offering greater scalability and flexibility. Cloud-native SOAR can enable organizations to manage and orchestrate security incidents from anywhere, which is particularly relevant in today's distributed and digital-first business landscape. These benefits have prompted companies operating in this space to upgrade their technological capabilities and innovate new products to cope with the growing market demand.
 

In September 2023, Google Cloud unveiled its most recent advancement in Chronicle Security Operations, aimed at simplifying and automating threat detection, investigation, and response (TDIR) by consolidating its various elements into one unified console. This consolidation encompasses its security information and event management (SIEM), security orchestration, automation, and response (SOAR), and attack surface management technology sourced from Mandiant. Notably, Google introduced Chronicle Security Operations last year, presenting a cloud software suite that integrates Chronicle's SIEM, Google's acquired SOAR from Siemplify, and Google Cloud's threat intelligence.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of security orchestration automation and response was worth USD 1.6 billion in 2023 and is estimated to register over 15% CAGR between 2024 and 2032, due to increasing incidences of cybersecurity threats worldwide.

The software segment was reached USD 1.1 billion in 2023 and is expected to grow significantly through 2032, as SOAR software is gaining widespread popularity in the cybersecurity landscape.

North America region captured around 35% share of the security orchestration automation and response industry in 2023 and will grow significantly through 2032, as the region faces a continuous and evolving threat landscape, with cyberattacks increasing in complexity.

Fortinet, Inc., IBM Corporation, Logpoint, Palo Alto Networks, Rapid7, ServiceNow, Siemplify, Splunk Inc., Swimlane, and Tines.

Security Orchestration Automation and Response Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 401
  • Countries covered: 20
  • Pages: 240
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